As an administrator, you can define and set a budget for departments, projects and cost centers as per the company’s policies. This will send an email notification whenever the threshold of spend is breached.
To specify a budget, follow the steps below:
Navigate to Settings > Expenses > Budgets.
Click on the Add Budget button
Add a name for the budget, choose the applicable criteria for specifying budgets - Cost Centres, Departments, Projects
Validate the next level of selection criteria to which the budget should be allocated to
You can set a weekly, monthly or quarterly budget using the Amount Limit Type field. For example: if you select the amount limit type as Month, it will ensure that all the expenses created during the month are calculated against the specified budget on a monthly basis
Under Amount Limit, add the budget amount
You can add a threshold limit % for the budget amount, which will help notify the recipients when the spend has crossed the percentage defined
Post filling all the information, you will have to add the recipients from the dropdown to receive the notification when the spend has exceeded the threshold limit. You can choose multiple people from the list as recipients.
You can also specify the frequency of the notifications in a number of days
Once done, you can click on "Add Budget" to enable the budget.
In order to edit a saved budget, click on the budget to open a pop up that has the previously saved information. You can update the fields as per your choice and save them again.
You can disable the budget in case you no longer require it, by toggling it off.